Overview
What is Golconda Foundation Inc?
Golconda Foundation Inc, located in Jones, Oklahoma, is a nonprofit organization with a mission to support educational scholarships and contribute to various worthy causes. One of their primary initiatives is assisting a Catholic home named Center of Family Love, which provides care for special needs adults in Okarche, Oklahoma. The foundation regularly provides financial aid to the home to enhance its operations. Beyond this, Golconda Foundation Inc may also contribute to other charitable causes as deemed appropriate, demonstrating a broad commitment to community support.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 24%, Zero-Star out of Four Star rating.
The Golconda Foundation Inc has received a low rating, indicating significant concerns regarding its accountability and financial transparency. With a score of 24%, the organization lacks essential financial statements and has not posted its tax form on its website, raising questions about its operational transparency.
Despite having a majority of independent board members, the foundation has serious shortcomings in other governance areas, such as the absence of policies related to whistleblowing and document retention. Additionally, its program expense ratio stands at a mere 10.82%, suggesting that a minimal portion of resources is directed towards its programs.
While the organization does demonstrate some adherence to governance practices, such as having meeting minutes documented and a conflict of interest policy, the overall lack of financial information and transparency is concerning. This rating highlights the need for the Golconda Foundation Inc to improve its accountability measures and financial reporting to better serve its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Golconda Foundation Inc legitimate?
Golconda Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Golconda Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $272,200
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Golconda Foundation Inc?
The Golconda Foundation Inc's mission is focused on providing educational scholarships and supporting other worthy causes as deemed necessary. In line with this mission, they actively allocate funds to aid various initiatives. Notably, they have been contributing to a facility that offers a home and care for special needs adults, demonstrating their commitment to supporting diverse communities.
Who is the CEO of Golconda Foundation Inc?
David C Bolding is the President of Golconda Foundation Inc.
What is the revenue of Golconda Foundation Inc?
Golconda Foundation Inc's revenue in 2022 was $756,156.
Who are the executives of Golconda Foundation Inc and what are their salaries?
There 3 volunteers at Golconda Foundation Inc.
Here are 3 key members and their salaries:
- Compensation: $44,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Golconda Foundation Inc?
Golconda Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Golconda Foundation Inc
Golconda Foundation Inc is committed to providing educational scholarships and contributing to worthy causes as deemed appropriate. This mission-driven organization seeks to make a positive impact in various fields, focusing primarily on education. By offering scholarships, Golconda Foundation Inc helps individuals pursue their academic aspirations, thereby fostering personal growth and development. Furthermore, the foundation extends its support to other worthy causes, demonstrating its commitment to making a difference in numerous communities.
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Impact
July, 2024
Golconda Foundation Inc's impact is centered around providing educational scholarships and funding other worthy causes as deemed appropriate. One notable contribution is their support for the Center of Family Love, a Catholic home in Okarche, OK for special needs adults. The foundation donates money several times a year to support this organization, demonstrating a commitment to making a difference in the lives of individuals with special needs. Through their focus on educational scholarships and funding for various causes, Golconda Foundation Inc is dedicated to creating positive change and fostering a spirit of generosity in the community.
This information is meant to be a general summary of Golconda Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $567
- Gross Receipts: $756,156
Assets and Liabilities:
- Total Assets: $314,304
- Total Liabilities: $0
- Net Assets: $314,304
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Organization Details
Founding Year
1996
Phone
(405) 640-2332Principal Officer
David C Bolding
Main Address
10025 N INDIAN MERIDIAN ROAD, JONES, OK, 73049
NTEE Category
Code: B82 - Education
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